MJP Associates Inc. ADV Trims Holdings in Tesla, Inc. (NASDAQ:TSLA)

MJP Associates Inc. ADV reduced its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 10.1% in the second quarter, HoldingsChannel reports. The fund owned 1,586 shares of the electric vehicle producer’s stock after selling 179 shares during the period. MJP Associates Inc. ADV’s holdings in Tesla were worth $415,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of TSLA. Alpha Paradigm Partners LLC purchased a new position in Tesla during the third quarter valued at $27,000. GW&K Investment Management LLC bought a new position in Tesla in the 1st quarter worth about $30,000. St. Johns Investment Management Company LLC increased its stake in Tesla by 451.9% during the 1st quarter. St. Johns Investment Management Company LLC now owns 149 shares of the electric vehicle producer’s stock valued at $31,000 after purchasing an additional 122 shares in the last quarter. Worth Asset Management LLC purchased a new position in shares of Tesla in the first quarter worth $111,000. Finally, Magellan Asset Management Ltd bought a new stake in Tesla in the 1st quarter worth about $34,000. Hedge funds and other institutional investors own 41.87% of the company’s stock.

Insider Transactions at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 1,065 shares of the stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $249.62, for a total transaction of $265,845.30. Following the transaction, the senior vice president now directly owns 59,540 shares in the company, valued at approximately $14,862,374.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, SVP Xiaotong Zhu sold 1,065 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $249.62, for a total value of $265,845.30. Following the completion of the sale, the senior vice president now owns 59,540 shares of the company’s stock, valued at approximately $14,862,374.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Zachary Kirkhorn sold 3,750 shares of Tesla stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $278.70, for a total value of $1,045,125.00. Following the completion of the transaction, the chief financial officer now owns 197,540 shares in the company, valued at $55,054,398. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,815 shares of company stock valued at $14,384,135. 20.90% of the stock is currently owned by corporate insiders.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $265.28 on Tuesday. The company has a current ratio of 1.59, a quick ratio of 1.07 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $842.00 billion, a price-to-earnings ratio of 75.15, a PEG ratio of 4.28 and a beta of 2.09. Tesla, Inc. has a 12 month low of $101.81 and a 12 month high of $313.80. The firm’s 50-day moving average is $255.83 and its 200 day moving average is $220.81.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, July 19th. The electric vehicle producer reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.22. The business had revenue of $24.93 billion for the quarter, compared to analyst estimates of $24.22 billion. Tesla had a return on equity of 26.10% and a net margin of 12.97%. The business’s revenue was up 47.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.65 earnings per share. Research analysts predict that Tesla, Inc. will post 2.94 EPS for the current year.

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of recent analyst reports. DZ Bank downgraded shares of Tesla from a “buy” rating to a “sell” rating and set a $210.00 price target on the stock. in a report on Friday, June 23rd. Canaccord Genuity Group boosted their price target on Tesla from $257.00 to $293.00 and gave the company a “buy” rating in a report on Monday, July 3rd. Jefferies Financial Group raised their price objective on Tesla from $185.00 to $265.00 and gave the stock a “hold” rating in a research note on Monday, July 10th. KGI Securities upgraded Tesla from a “neutral” rating to an “outperform” rating in a research note on Monday, June 12th. Finally, Bank of America raised their target price on shares of Tesla from $225.00 to $300.00 in a research note on Thursday, July 6th. Six research analysts have rated the stock with a sell rating, eighteen have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $239.43.

About Tesla

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. It operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, retail merchandise, and vehicle insurance services.